Monero

Monero (XMR) is a privacy-focused cryptocurrency launched in 2014 that enables untraceable transactions. It uses advanced cryptographic techniques such as ring signatures, stealth addresses, and confidential transactions to hide sender, receiver, and amount details. Users can generate XMR through mining, and the network prioritizes privacy and fungibility.

Monero uses ring signatures to mix a user's transaction with others, making it impossible to determine the exact sender. Stealth addresses generate one-time addresses for each transaction, hiding the recipient. Confidential transactions (RingCT) obscure the amount transferred. This combination ensures that transactions are private by default, unlike many other cryptocurrencies. The network uses the RandomX proof-of-work algorithm for mining.

XMR is the native token of the Monero network. It is used to pay transaction fees and can be mined by participants. As a privacy coin, XMR is primarily used for private and fungible transfers, allowing users to transact without revealing financial details to third parties. It also serves as a medium of exchange within the Monero ecosystem.

Unlike Bitcoin, which has a transparent ledger, Monero obscures transaction details by default. While Bitcoin transactions are publicly viewable, Monero's use of ring signatures and stealth addresses ensures that transactions are untraceable and unlinkable. This makes Monero a privacy-focused choice for users seeking financial privacy, though it has faced regulatory scrutiny. Its focus on privacy sets it apart from most other cryptocurrencies.

Monero is currently priced at $561.01, up 2.05% in the last 24 hours. It is ranked #12 by market capitalization. Over the past 7 days, XMR is up 2.82%.

Monero has a market capitalization of $10.55B. The 24-hour trading volume is $119.93M, reflecting the total value of XMR traded across all exchanges in the last day.

There are currently 18.81M XMR in circulation. The total supply is 18.81M XMR.